South Korea, Vietnam foreign ministers pledge cooperation over US tariffs

South Korea's Foreign Minister Cho Tae-yul, left, and his Vietnamese counterpart Bui Thanh Son shake hands at the Ministry of Foreign Affairs headquarter in Hanoi, Vietnam, Tuesday. EPA-Yonhap

The foreign ministers of South Korea and Vietnam agreed to cooperate closely in response to U.S. reciprocal tariffs imposed on the countries during a meeting in Hanoi, South Korea's foreign ministry said on Wednesday.

South Korean businesses, which are the largest foreign investors in Vietnam, are bracing for the impact of a 46% reciprocal tariff announced by U.S. President Donald Trump on imports from the Southeast Asian country.

South Korea is subject to a 25% duty under the sweeping trade plan by Trump against dozens of countries, which he has for now put on a 90-day moratorium until July.

Foreign Minister Cho Tae-yul met his Vietnamese counterpart Bui Thanh Son on Tuesday, the South Korean ministry said.

Earlier this week, South Korea's industry and trade minister also visited Vietnam to discuss the response to looming tariffs.